Who are interested persons?
Interested persons may be:-
1. The author of the trust or the founder of the institution.
2. Any person who has made a substantial contribution to the trust
or institution that is to say, any person whose total contribution
up to the end of the relevant previous year exceeds fifty thousand
3. Where such author, founder or person is a Hindu undivided family,
a member of the family.
4. Any trustee of the trust or manager, (by whatever name called) of
5. Any relative of any such author, founder, person, member, trustee
or manager as aforesaid.
6. Any concern in which any of the persons referred to in clauses
1,2,3,4 and 5 (above) has a substantial interest.
Who are Relatives?
Relatives may be:-
1. Spouse of the individual.
2. Brother or sister of the individual.
3. Brother or sister of the spouse of the individual.
4. Any lineal ascendant or descendant of the individual.
5. Any lineal ascendant or descendant of the spouse of
6. Spouse of a person referred to in 2,3,4 or 5 above.
7. Any lineal descendant of a brother or sister of
either the individual or of the spouse of the
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